Advertisements
Advertisements
Question
Wages paid for installation of machinery wrongly debited to wages account is an error of ______.
Options
Partial omission
Principle
Complete omission
Duplication
Advertisements
Solution
Wages paid for installation of machinery wrongly debited to wages account is an error of principle.
APPEARS IN
RELATED QUESTIONS
What is meant by the error of principle?
What is meant by the error of partial omission?
What is meant by the error of complete omission?
What are compensating errors?
Write a note on the error of principle by giving an example.
Which type of error affects only one side (debit or credit) of a single account and usually causes a difference in the trial balance?
If a transaction is completely missed in all books of accounts, which type of error is it?
Breaking accounting rules and misclassifying accounts is known as which type of error?
Why is a suspense account used in correcting accounting errors?
What is the correct method of rectifying two-sided errors once they are discovered?
